Tadawul Review:

Tadawul All Share Index (TASI) rose for the ninth day of the session on Tuesday, breaking the 12,000 barrier and rising by +133 points (+1.1%) to close at the level of 12,080 points. The index opened the session on a positive note, with an increase of 10 points from the previous close, after which it began to rise gradually until the end of the session. In general, 19 out of 21 sectors closed in the green zone, and 140 shares rose while 73 fell. Banks (+1.2%), Utilities (+3.4%), and Real Estate (+3.4%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+3.8%), Saudi National Bank (+2.4%), and Aramco (+0.5%) were the major contributors. The trading activity witnessed a decresed in volume and value by -5% and an increase in value by 1%, to reach 231mn shares and SAR7.2bn in value traded.

 

 

 

 

 Market Wrap International:

The U.S. stock market ended Tuesday on a positive note, with the S&P 500 and Nasdaq Composite both increasing by 0.6% and 0.2%, respectively. Traders await U.S. retail sales data later for fresh insights on whether inflation and growth have cooled enough to satisfy policymakers who are deliberating on when it’s safe to begin bringing down interest rates.

In Europe, European markets slipped on Tuesday ahead of the release of U.S. retail sales data that could help sway a decision by the Federal Reserve on interest rates. the Euro Stoxx 600 fell by -0.3% and FTSE 100 also experienced a decline of –0.2%.

In Asia, Asian stock markets were mixed on Tuesday as traders eyed China's sluggish economy and lower exchange rates for the Japanese yen. The Hang Seng index lost -1.6%. Meanwhile, the Shanghai index inched up by 0.1%, while other regional exchanges showed mixed results. In Japan, the Nikkei 225 opened higher after a three-day hiatus, taking cues from Wall Street, and finished up 0.2% as a softer yen boosted export issues.